Peoples Financial Services CORP. increased its position in shares of General Electric Company (NYSE:GE) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,421 shares of the conglomerate’s stock after buying an additional 7,950 shares during the period. General Electric makes up 2.5% of Peoples Financial Services CORP.’s investment portfolio, making the stock its 6th largest position. Peoples Financial Services CORP.’s holdings in General Electric were worth $4,251,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of GE. Teza Capital Management LLC purchased a new stake in General Electric during the fourth quarter valued at about $259,000. United Bank purchased a new stake in General Electric during the fourth quarter valued at about $2,209,000. GenTrust LLC purchased a new stake in General Electric during the fourth quarter valued at about $220,000. Barber Financial Group Inc. bought a new position in shares of General Electric during the fourth quarter valued at $226,000. Finally, Glenview Trust Co bought a new position in shares of General Electric during the fourth quarter valued at $14,926,000. 54.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of General Electric Company (NYSE GE) traded down 1.01% during trading on Friday, hitting $25.53. 28,286,777 shares of the stock traded hands. The company has a 50 day moving average price of $27.10 and a 200 day moving average price of $28.90. The firm has a market cap of $221.37 billion, a price-to-earnings ratio of 31.10 and a beta of 1.22. General Electric Company has a 12 month low of $25.26 and a 12 month high of $32.38.
General Electric (NYSE:GE) last posted its quarterly earnings results on Friday, July 21st. The conglomerate reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $29.56 billion during the quarter, compared to analyst estimates of $29.07 billion. General Electric had a net margin of 6.45% and a return on equity of 14.60%. The company’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.51 earnings per share. Analysts anticipate that General Electric Company will post $1.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 25th. Shareholders of record on Monday, June 19th were given a $0.24 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.76%. General Electric’s payout ratio is currently 118.52%.
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A number of equities analysts recently commented on the company. Vetr upgraded General Electric from a “hold” rating to a “buy” rating and set a $30.43 price target for the company in a report on Thursday, April 27th. Stifel Nicolaus lifted their price target on General Electric from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. William Blair reiterated a “buy” rating on shares of General Electric in a report on Saturday, April 1st. Credit Suisse Group restated a “buy” rating and set a $34.00 price objective on shares of General Electric in a research report on Tuesday, April 11th. Finally, Argus dropped their price target on shares of General Electric from $36.00 to $33.00 and set a “buy” rating for the company in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.25.
In related news, Director James E. Rohr bought 27,425 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average price of $25.50 per share, for a total transaction of $699,337.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey R. Immelt bought 100,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $28.07 per share, with a total value of $2,807,000.00. Following the transaction, the chairman now owns 2,561,926 shares of the company’s stock, valued at approximately $71,913,262.82. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 149,270 shares of company stock valued at $4,113,059. Company insiders own 0.36% of the company’s stock.
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